PSEB SS Economics Practice Questions - Punjab School Education Board (PSEB) Senior Secondary Economics (Class 12 - Economics Elective, Subject Code 026) Exam

A production possibility frontier (PPF) that is concave (bowed out) from the origin reflects:

Increasing opportunity cost as resources are reallocated between goods Constant opportunity cost along the entire frontier Decreasing opportunity cost of the good on the horizontal axis only That the economy has unlimited resources

Correct Answer:

Increasing opportunity cost as resources are reallocated between goods

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